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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had passed. As it turned out yesterday, it hadn’t. The industry’s benchmark, the Baltic Dry Index lost another 3.94% to reach 1,292 points, with the Capesize segment losing 3.05%. But, it was the Panamax market that tumbled the most yesterday, by a whopping 5.08% on a daily basis.
Accroding to a report from BIMCO’s shipping analyst Peter Sand, the current weakness in the Capesize won’t go away anytime soon. “Capesize rates have defied gravity on the back of strong demand for particularly coal but also for iron ore during 2010. This has neutralized some of the downside effects from the heavy inflow of new tonnage into the market. Last year alone, the Capesize fleet grew in numbers by 200 and tonnage wise by 22% and the forecast for this year is an equally challenging supply side growth. With dry bulk demand in 2011 expected to be a little less strong than in 2010 – the freight rate outlook for the Capesize segment is a bit bleak. 20 new Capesize vessels have already joined the fleet in 2011 and with ongoing weather related disruptions not only in Australia – volumes and shipments will be too few to support a significant rate rebound over the coming months” said Sand.
In a separate note, Paris-based shipbroker Barry Rogliano Salles said that “there are some hopes for an increase in activity following the gradual resumption of coal exports in Australia. At the moment Aussie-China rates appeared to have plateaued around US$6.75. Monday saw another small drop in the BCI, while in the FFA market all periods came off with declines greatest for February and March prices”.
BIMCO’s analysis indicated that there are currently 110 Capesize vessels sitting outside the Australian east coast, something which in any other normal case, would be regarded as a healthy picture in terms of freight rates, as actual supply is recuded. “But this time around it merely spells out the trouble and indicates what’s in sight for the large vessels in 2011. Orderings of new Capesize vessels have come relatively down as only 31% of all dry bulk orderings were Capesizes last year. This compares to a relative portion of 50% in the year 2006-2009. Since Capesize freight rates fell below USD 13,000 per day the daily negative change has slowed down and Capesize rates might rest within the interval of USD 7,000-13,000 per day in coming months. As a clear illustration of how bad the situation for the Capesize vessels is, all of the smaller dry bulk segments currently obtain better freight rates than Capesizes. As per 24 January, Capesize average time charter rates were as low as USD 8,665 per day. Meanwhile Panamax earned USD 12,725 per day, Supramax USD 14,789 per day and Handysize USD 11,232 per day.
Even though selected back-haul routes have slipped into negative territory, the time charter averages have not gone that sour. In December 2008 when demand evaporated due to the letters-of-credit issues (and the overall crisis – of course) average T/C rates were as low as USD 2,316 per day. This time around demand is strong as indicated be rising commodity prices – so you should not expect rates to dig that deep” said Peter Sand.
He went on to conclude that such low freight rates are disastrous for ship owners, especially those who are trading in the spot market. According to him, ways out of this would probably be massive demolition of older tonnage, vessels being laid-up like back in the 80’es, postponements of newbuilt deliveries to an even larger extend than what we saw in 2010 and hesitation about signing new contracts for vessels.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- The University of Queensland
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
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